JSW Energy hits 52-week high on winning 300 MW wind-solar power project – EQ
In Short : JSW Energy’s stock reached a 52-week high after securing a 300 MW wind-solar power project. This achievement reflects investor confidence in the company’s renewable energy capabilities and its strategic growth in hybrid energy solutions.
In Detail : JSW Energy Share Price | The company expects to have an installed generation capacity of 9.8 GW by CY24, up from 7.3 GW currently.
JSW Energy share price touched 52-week high of 740.65 in the opening trade on June 24 after the company won wind-solar hybrid power project from Solar Energy Corporation of India Limited (SECI).
At 10:04am, JSW Energy was quoting at Rs 728.05, up 0.61 percent, on the BSE.
JSW Neo Energy, a wholly owned subsidiary of JSW Energy has received letter of award (LoA) for setting up 300 MW ISTS connected wind-solar hybrid power project from Solar Energy Corporation of India (SECI) against tariff based competitive bid invited for setting 1,200 MW ISTS-connected wind-solar hybrid power projects (Tranche VIII).
Post this award, the company’s total locked-in capacity increases to 13.6 GW.
The company expects to have an installed generation capacity of 9.8 GW by CY24, up from 7.3 GW currently.
With this hybrid project, the company strengthens its energy solution offerings while moving towards an energy products and services company.
JSW Energy has total locked-in generation capacity of 13.6 GW comprising of 7.3 GW operational, 2.6 GW under-construction across wind, thermal and hydro and pipeline of
3.7 GW.
In addition, the company has 3.4 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project.
The company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.
Fitch Ratings has affirmed the rating of company’s step–down wholly owned subsidiary, JSW Hydro Energy’s USD 707 million senior secured notes due 2031 at ‘BB+’; with outlook ‘stable’.
